Croatia Industrial production July 2020

Croatia

Croatia: Industrial activity falls at softer pace in July

September 1, 2020

Industrial output fell at a softer pace of 1.6% year-on-year in working-day adjusted terms in July (June: -1.8% yoy). Looking at the details of the release, July’s weaker contraction was primarily driven by a pick-up in utilities supply output.

On a monthly basis, factory output growth moderated to 5.6% in seasonally-adjusted terms in July (June: +7.5% s.a. mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.5% in July, down from June’s minus 3.1%.

FocusEconomics’ panelists see industrial production contracting 8.0% this year, which is up 0.1 percentage points from last month’s forecast. Next year, our panel sees industrial production growing 4.1%.


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Croatia Industry July 20 20 0

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics calculations.


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